Pitching to an Investor with Gary Tomchuk from Evolutionary Ventures

Startup Investor Discussion Preparation

Mary and Gary discussed sharing relevant links and contact information, including Gary's LinkedIn profile, Evolutionary Ventures website, and his role as California representative for Investor Circle. Gary mentioned his work with impact investors and his involvement in a round table discussion about what investors want to hear from startups. The conversation then transitioned into the start of an interview for "Stuck? Time to Improv," where Mary welcomed Gary and introduced the topic of startups talking to investors.

Startup Funding Key Considerations

Gary discussed key considerations for startups seeking funding, emphasizing that investors focus primarily on team composition and potential returns rather than just the business concept. He highlighted that a strong team with relevant experience in product, industry, and company building is essential, as a good team can pivot effectively while a bad team can ruin even a good idea. Gary also introduced his three-legged stool model for building stable companies, which includes product/service, marketing, and business structure components.

Impact Company Strategy Discussion

Gary discussed how impact company founders often focus too much on the social mission rather than balancing all three pillars of people, planet, and profit. He explained that part of his work involves determining whether impact companies should operate as for-profits or non-profits, and mentioned an upcoming webinar about using donor-advised funds (DAFs) to fund businesses, including for-profit entities.

Angel Investment Group Interview

Mary interviewed Gary Tomchuk from Investor Circle, an angel investment group that has been active for 34 years and invested over $300 million. Gary explained that Investor Circle focuses on pre-seed, seed, and Series A rounds with individual investments typically ranging from $20,000 to $200,000, and they maintain an 85% funding rate for companies presenting on their monthly calls. Gary emphasized that investors want to see traction, team in place, MVP development progress, and evidence of first money invested, particularly from founders who have skin in the game or are working with investors.

https://youtu.be/I4q6ERvRE8M

Contact Gary Tomchuk https://www.linkedin.com/in/garytomchuk/ www.evolutionaryventures.com www.investors-circle.org impactentrepneur.com

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Insurance Facts for Startups with Pete Shemetulskis from Marquee Benefit Advisors

Startup Insurance and Benefits

Mary and Pete discussed the importance of insurance for startups, particularly focusing on employee benefits. Pete explained that the need for insurance depends on the industry and organization type, noting that benefits are more crucial for organizations with high employee turnover or those seeking to attract and retain staff.

Business Insurance Requirements Discussion

Pete discussed insurance requirements for businesses, emphasizing the need for health insurance and workers' compensation coverage. He advised startups to find a trusted insurance professional early in the business development process to help navigate benefits and risk management. Pete outlined common employee benefits including health insurance, dental, vision, and life insurance, noting that life insurance is particularly inexpensive for employers to provide.

Employee Benefits Overview

Pete discussed various employee benefits including pet insurance, critical illness and accident policies, and programs for nursing mothers. He explained that COBRA provides coverage for employees who leave the organization, and stop loss insurance protects employers from liability after a certain point. Pete also mentioned how employee benefits can help retain key personnel like chief scientists in biotech startups.

Business Insurance Options for Solopreneurs

Pete explained life insurance policies for business continuity and discussed health insurance options for solopreneurs, including group plans, ICRA arrangements, and chamber of commerce plans. He noted that while some solopreneurs may be covered under spouse plans, many employers now require eligible individuals to move to company plans. Pete also mentioned that two-person groups, including spouses, can sometimes get coverage but at higher costs due to lack of underwriting.

https://marqueebenefit.com

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Use a Book to Showcase Your Expertise with Suzy Prudden from Itty Bitty Publishing

Book Marketing for Startups

Mary welcomed attendees to Stuck? Time to Improv! and introduced Suzy Prudden from Itty Bitty Publishing as an expert on using books as marketing tools for startups.

Business Benefits of Marketing Books

Suzy discussed various types of businesses that benefit from creating marketing books, including speakers, coaches, accountants, travel experts, website designers, ADHD coaches, medical professionals, sales experts, and even authors writing about space for children. She provided specific examples, such as an author negotiating a contract with Boys and Girls Club of America for 4 million kids and another author who wrote a book on TEDx speaking. Suzy emphasized that books serve purposes beyond simple sales, as they can support broader business goals and reach diverse audiences.

Book Writing Processes Overview

Suzy explained various book writing processes, including writer's clinics, weekend workshops, and support for different types of book projects. She described itty bitty books as short expert guides typically containing 15 chapters with two pages each, designed to help people learn specific skills or knowledge areas. Suzy noted that these books serve as marketing tools for experts to demonstrate their knowledge and attract potential clients.

Book Template Discussion Meeting

Mary and Suzy discussed a book template that Suzy uses to guide authors through the writing process, which Suzy described as a centerpiece for business activities like seminars and webinars. When asked if the template could substitute for a pitch deck, Suzy indicated it was not equivalent but could demonstrate an author's expertise to potential investors. Suzy also mentioned that authors can get sponsors to help offset book costs, and the conversation concluded with Mary expressing appreciation for Suzy's insights.

Website https://www.ittybittypublishing.com

Book a call with Suzy https://api.leadconnectorhq.com/widget/bookings/suzy-prudden

Gift for you: 4 hour Write Your Book Workshop FREE https://www.ittybittypublishing.com/products/444169/four-hour-seminar-write-your-book-now.htm

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What an Investor Needs from a Startup with Randy Berholtz from Mesa Verde Venture Partners

Early-Stage Life Sciences Investing

Randy discussed his background in investing, explaining that he transitioned from being a lawyer with an MBA to working as a CEO and now invests through Mesa Verde Venture Partners, an early-stage life sciences venture fund in San Diego. He typically invests $500,000 to $1 million in US companies as the first VC investor, with an additional $1 million in reserves. Randy expressed his interest in identifying promising opportunities early and looking 20 years ahead in his investments.

Biotech Startup Investment Guidance

Randy explained that startups should prepare a detailed presentation specifying the problem to be solved and their exit strategy, including potential buyers and competition. He emphasized that biotech startups particularly need to demonstrate market viability, asking whether someone will pay for their product, whether through insurance or direct pay. Randy indicated his investment focus spans therapeutics, diagnostics, medical devices, and healthcare improvements, with personal interest in longevity and health span technologies.

Academia to Biotech Transition Guidance

Randy advised that scientists transitioning from academia to biotech should focus on commercialization rather than just basic science, emphasizing the importance of teamwork and people skills in the industry. He highlighted that successful biotech companies require collaboration across multiple disciplines including chemists, biologists, engineers, marketing, sales, regulatory, and clinical trial personnel. Randy noted that the average time to bring a drug to market is about 12 years, and successful commercialization requires working with diverse teams rather than focusing solely on scientific expertise.

FDA Impact on Medical Technology

Randy discussed the impact of FDA shakeups on the industry, stating that while some change is beneficial, delays in SBIR and STTR programs could hurt science and investing in the long term. He emphasized the need for more government certainty and less politics in the regulatory process, particularly regarding medical technology approvals. The conversation concluded with Mary providing contact information for Randy's venture capital firm and promoting her startup services.

Randy's link: https://mesaverdevp.com

Book a call with Mary Scott at https://calendly.com/businessriff/15min

Marketing Tips for Startups with Alesha Henley from A Dose of Insight.

Startup Marketing Strategy Discussion

Mary and Alesha discussed key tips for startups, focusing on the importance of clearly defining the target audience rather than marketing to everyone. Alesha emphasized that social media should be used for personal engagement rather than just transactional purposes, as building trust with potential customers is essential for business growth.

Effective Marketing Audience Strategies

Alesha emphasized the importance of understanding the target audience's demographics and their preferred social media platforms for effective marketing. She highlighted that authenticity and trust-building are key to successful communication, and marketers should focus on addressing customer pain points and benefits rather than just promoting themselves.

Social Media Content Strategy

Alesha recommended including pictures on social media as people are visual and have short attention spans, though she noted that the type of content depends on the audience and message. She explained that younger audiences prefer quick videos while more mature audiences are more willing to read longer content. Alesha emphasized the importance of including a call to action to direct followers to a website, stating that having an online presence is essential for appearing legitimate as a business.

Low-Cost Business Startup Strategies

Alesha advised Mary on low-cost strategies for new businesses to get started, including using free platforms like Zoom and social media to create initial content. She emphasized that consistency beats going viral and recommended affordable website creation tools with templates for startups. When asked about hiring developers or graphic artists, Alesha suggested they are beneficial but acknowledged budget constraints for new businesses, suggesting alternative affordable software options instead.

Alesha's links: LinkedIn: https://www.linkedin.com/company/69446054/admin/dashboard/ Facebook: https://www.facebook.com/DoseInsight Instagram: https://www.instagram.com/adoseofinsightmarketing/ Book a free consultation: 30 Minute Consultation: https://api.leadconnectorhq.com/widget/bookings/my-30-minute-consultation

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Entrepreneurship for Engineers with Richard Bowling, MicroPod Global Engineer Entrepreneur Academy

Engineer Entrepreneur Transition Challenges

Richard identified the primary challenge for engineers transitioning to entrepreneurship as overthinking the process, particularly struggling with business development, marketing, and validation rather than technical aspects. He noted that engineers must make a significant professional mindset shift from seeking perfect solutions to launching products despite uncertainty. Richard explained that his program, Micropod Global Engineer Entrepreneur Academy, uses micro-hacks to help engineers transition, including concepts like "action precedes clarity" and the "70% rule."

Product Development and Customer Engagement

Richard discussed product development strategies, emphasizing the importance of making decisions when a product is 70% complete rather than waiting for 100% completion. When Mary asked about hacks to help engineers overcome social anxiety when talking to potential customers, Richard shared an example of an engineer who was psychologically resistant to customer interactions and mentioned that they provide personal development coaching to address these fears and build confidence in business development activities.

Entrepreneurship and Product Validation Insights

Richard advised engineers to join communities or beta test with other engineers to overcome isolation during entrepreneurship journeys. He emphasized the importance of validating ideas through lean startup principles before building functional products, even using simple mock-ups to confirm market needs. The discussion concluded with Mary thanking Richard for his insights and promoting her startup consulting services.

AEO tips and tricks with Dotty Scott from AskDotty.com

AEO Definition and Optimization

Dotty Scott explained that AEO (Answer Engine Optimization) refers to optimization within artificial intelligence platforms like Claude, Perplexity, ChatGPT, and Gemini, clarifying that all related acronyms represent the same concept.

Answer Engine Optimization Strategies

Mary and Dotty Scott discussed answer engine optimization (AEO), explaining that people are increasingly asking questions directly rather than using traditional keyword searches. They noted that users are now starting their searches within AI chat platforms like ChatGPT and Claude rather than traditional search engines. Dotty Scott recommended that startups include FAQ sections on their websites to address common questions and improve both SEO and AEO, suggesting this is an easy way to provide direct answers to potential customers' inquiries.

Website Optimization and SEO Strategies

Dotty Scott discussed website optimization strategies, recommending tools like Answer the Public and Google's "people also ask" feature to identify common questions that should be addressed on websites. Dotty Scott emphasized the growing importance of SEO, particularly with AI, and highlighted that many business owners avoid implementing online reviews despite their significance.

Online Reviews and AI Impact

Dotty Scott explained that online reviews are essential for building confidence with AI systems and search engines, as quantity matters more than quality in how these systems evaluate businesses. She noted that AI systems don't read reviews but focus on comparing the number of reviews a business has against competitors in the same industry. Dotty Scott also warned against buying Google reviews, as this practice can lead to negative consequences, and mentioned that Google uses AI to detect and remove bot reviews, though the exact mitigation methods remain unclear.

Digital Footprint Measurement Tool

Dotty Scott presented a digital footprint measurement tool that scores businesses from 0 to 100 based on their online presence, including website, Google business profile, reviews, and social media mentions. She explained that a larger digital footprint helps build confidence with AI engines beyond just what's on the business website. Mary thanked Dotty Scott for the presentation and mentioned that the tool's link would be shared in the comments.

Social Media Mistakes to Avoid with Heather Havenwood, Haven Media

Social Media Mistakes by Startups

Heather identified two major social media mistakes startups make: not having a clear spokesperson, especially for larger companies and tech firms, and failing to align their messaging with what resonates with their audience rather than just explaining their technology.

Tech Sales Messaging Best Practices

Heather discussed common mistakes tech companies make in their sales messaging, emphasizing the importance of understanding their target audience and articulating their value proposition effectively. Mary agreed, highlighting the need to focus on how clients hear the messaging and what's in it for them rather than focusing on the company's "secret sauce." Heather shared an anecdote about a street protestor in St. Petersburg to illustrate how aggressive messaging can be ineffective, comparing it to social media posts that "scream" at audiences without resonating with them.

Social Media Engagement Strategies

Heather and Mary discussed the importance of clear messaging and call-to-action strategies for social media engagement. They agreed that directing interested users to a free community is an effective next step, as it allows for deeper relationship building and helps identify clients' primary concerns.

Community Problem Identification Strategy

Heather and Mary discussed the importance of understanding multiple problems that potential community members might be facing, rather than focusing solely on one issue. They emphasized the need to identify both primary and secondary problems to effectively engage with customers and improve sales conversations. The discussion highlighted the value of tapping into various pain points to build stronger relationships and provide more comprehensive solutions.

Heather: HeatherHavenwood.com

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